The regression equation NetIncome = 2,178 + 0.0471 Revenue was estimated from a

Question

The regression equation NetIncome = 2,178 + 0.0471 Revenue was estimated from a sample of 100 leading world companies (variables are in millions of dollars).

1)

2)

If Revenue = 1, then NetIncome = million. (Round your answer to 2 decimal places.)

If Revenue = 20,656, then NetIncome = million. (Round your answer to the nearest whole number.)

Please answer both parts of the question.

The regression equation NetIncome = 2,178 + 0.0471 Revenue was estimated from a sample of 100 leading world companies (variables are in millions of dollars).

Explanation / Answer

NetIncome = 2,178 + 0.0471*Revenue is the equation provided

A) for Revenue=1, the NetIncome is given as 2178+0.0471*1=2178.0471

B) for Revenue =20656, the NetIncome is 2178+0.0471*20656 =3150.8976

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